Hyster-Yale, Inc. HY

Competitive advantage analysis · industrials

Corporate Default
Overall moat score
36/100
Developing

About Hyster-Yale, Inc.

Hyster-Yale, Inc., through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships. The company also offers aftermarket parts … Full HY analysis →

Competitive advantage assessment

Key strengths

  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.73), suggesting sticky customer base.
  • Operating Leverage in Effect Operating leverage is evident (score 0.83), with margins expanding over time.

Key risks

  • ROIC Below WACC or Peers ROIC at 26.1th percentile suggests inefficient capital deployment.
  • Commodity Pressure / Weak Differentiation Gross margin at 39.1th percentile with high volatility suggests weak pricing power or commoditized products.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
32

Where HY ranks in Farm & Heavy Construction Machinery

Hyster-Yale, Inc. ranks #17 of 29 scored companies in Farm & Heavy Construction Machinery by moat score — the top 59%. The widest moat in the group is Caterpillar, Inc. (CAT) at 80/100.

Moat scores for companies ranked near HY in Farm & Heavy Construction Machinery
# Company Moat score Rating
13 Wabash National Corporation WNC 51/100 Moderate
14 AGCO Corporation AGCO 50/100 Moderate
15 Art's-Way Manufacturing Co., In ARTW 47/100 Developing
16 Manitowoc Company, Inc. (The) MTW 45/100 Developing
17 Hyster-Yale, Inc. HY 36/100 Developing
18 Titan International, Inc. (DE) TWI 34/100 Developing
19 Xos, Inc. XOS 28/100 Developing
20 Columbus McKinnon Corporation CMCO 27/100 Developing
21 urban-gro, Inc. UGRO 26/100 Developing

See every General Corporate company ranked by moat score →

How HY scores on the Corporate Default defenses

Pricing Power

Score 32 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 37 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 55 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 20 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 20 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 57 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding HY's moat

What is Hyster-Yale, Inc.'s moat score?

Hyster-Yale, Inc. (HY) scores 36 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #17 of 29 scored companies in Farm & Heavy Construction Machinery, the top 59%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 28 companies in Farm & Heavy Construction Machinery. Its strongest defense is Scale & Market Position (57/100) and its weakest is Resilience (20/100).

How does Hyster-Yale, Inc. compare with other Farm & Heavy Construction Machinery companies?

Hyster-Yale, Inc. ranks #17 of 29 scored companies in Farm & Heavy Construction Machinery by moat score. The widest moat in Farm & Heavy Construction Machinery is Caterpillar, Inc. (CAT) at 80/100. The companies ranked closest are Manitowoc Company, Inc. (The) (MTW) at 45 just above it and Titan International, Inc. (DE) (TWI) at 34 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 28 companies in Farm & Heavy Construction Machinery. The defenses are then weighted to produce the overall score out of 100.

Why is Hyster-Yale, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Hyster-Yale, Inc.?

The Corporate Default template measures 6 defenses, and HY scores: Pricing Power (32), Cost Advantage (37), Customer Stickiness (55), Capital Efficiency (20), Resilience (20), Scale & Market Position (57). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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